Endowment insurance is a kind of social insurance system established by the state and society according to certain laws and regulations, in order to solve the problem that the laborer reaches the labor age limit of relieving labor obligation stipulated by the state, or withdraws from the work post because of the old age losing the ability to work. How much does the endowment insurance of free occupation pay normally? Let's have a look at the new regulations of the free occupation endowment insurance in 2019.
Pension = basic pension personal account pension
Personal account pension = personal account savings & divide; number of months of payment (the number of months is determined according to the retirement age and the average life span of the population at that time. The number of months is slightly equal to (average life expectancy retirement age) X12. At present, 50 years old is 195, 55 years old is 170, 60 years old is 139, no longer unified is 120)
Basic pension = (average monthly wage of employees on the job in the province in the previous year, i.e., average monthly payment wage) & divide; 2 & times; payment period & times; 1% = average monthly wage of employees in the province in the previous year (1 average contribution index) & divide; 2 & times; payment years & times; 1%
In the formula: the index monthly average payment wage = the average monthly wage of employees in the province in the previous year & times; my average contribution index
In the above formula, we can see that under the same payment years, the level of basic pension depends on the average contribution index of an individual. The average contribution index of an individual is the annual average value of the ratio of his actual contribution base to the average social wage. The lower limit is 0.6 and the upper limit is 3. Therefore, in the two calculation of pension, in any case, the higher the contribution base and the longer the payment period, the higher the pension will be. The pension is provided for indefinitely. As long as the recipient lives, he can enjoy the monthly pension treatment. Even if the personal account pension has been used up, the basic pension will continue to be calculated and issued according to the original standard. Moreover, the individual pension will increase year by year according to the increase of the average monthly wage of the social workers on the job. Therefore, the longer you live, the more you can get, which is certainly more cost-effective than paying fees.